JD Sports Fashion reported a 3.1% decline in like-for-like sales for the second quarter, with North America down 6.8%, prompting a downward revision to its full-year adjusted pre-tax profit outlook.
The company now expects adjusted pre-tax profit of £700-800 million for the current fiscal year, down from its prior guidance of £750-850 million. The revision reflects weaker-than-anticipated performance in its largest market, where consumer sentiment has softened and back-to-school purchases have shifted into August.
JD Sports attributed the slowdown in North America to a combination of factors, including reduced demand for new footwear releases, a promotional pricing environment and a lack of innovation from key supplier Nike, which accounts for roughly 45% of the group’s revenue.
Like-for-like sales across the group fell 3.1% in the second quarter, extending the pressure observed in recent periods. The company did not provide an updated outlook for same-store sales or revenue growth beyond the profit guidance adjustment.
JD Sports operates a global network of stores, with North America serving as a critical revenue driver. The retailer has not disclosed whether it plans to adjust its store expansion or inventory strategies in response to the weaker demand trends.
